Hong Kong at the crossroads
Featured in our Offshore Report (April 2021)
The big offshore law firms maintain a strong presence in Hong Kong, which continues to generate an enormous flow of work in deals, disputes, finance, funds, listings and private wealth. Collectively, their local offices have expanded over recent years to surpass the 300-lawyer mark, making it the third most-heavily lawyered jurisdiction by offshore firms after Cayman and Jersey.
But Hong Kong is a city in transition as the People’s Republic of China (PRC) increasingly flexes its muscles in this unique Special Administrative Region (SAR). Indeed, 2022 will mark the halfway point of “one country, two systems”: the guiding principle for Hong Kong since it ceased to be a British colony.
October 2021 News
Failure and Fault:
What NatWest’s £400m fine tells us about corporate liability for money laundering
John Binns, partner in the Financial Crime team at BCL Solicitors LLP. considers whether NatWest’s guilty plea last week to failures under the UK’s money-laundering regulations – but is it right to call this a ‘failure to prevent’ by the bank?